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Telegram AMA Recap - Ecomi hosted by Satoshi Street Bets on March 22, 2021
Recap of AMA on Telegram with Nikolai White of Satoshi Street Bets interviewing Rhys Skellern, from ECOMI on March 22, 2021.
Participants
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Summary
- VeVe is a platform for the mass market
- Acquired rights to over 100 brands in the last 2 years
- 3 types of collectibles, static, interactive, and controllable
- VeVe wallets will be a shelf-ready retail wallet/starter pack, which will be a less robust version of the Secure Wallet
- The vision is to enable brand new digital experiences for our users
- App will have 2FA protection, and not long after biometrics will be available
- OMI to Gem swap is being refactored by VeVe's dev team but should be back to normal by the end of the week (NLT March 27, 2021)
- There will be an Artist Alley
- Want exclusivity and will therefore not increase the number of items minted
Transcript
Rhys (ECOMI- Will not ask for ETH), [22.03.21 00:59]
hi everybody 😊
im not sure if we're on yet RE the AMA, but im guessing we will be soon!
i think i have slow mode on as well so just going to wait until the admins tell me we're all good, i've been booted by pesky bots in other communities in the past haha 1:00 AM
ooooo i think i'm in!
Nikolai White, [22.03.21 01:06]
Awesome! So glad you could be here Rhys
Rhys (ECOMI- Will not ask for ETH), [22.03.21 01:06]
thanks for having me 😊
Nikolai White, [22.03.21 01:08]
So there’s been tons of buzz about OMI both here and on twitter
Rhys (ECOMI- Will not ask for ETH), [22.03.21 01:08]
that there has, the ECOMI family is incredible, they've been singing about VeVe from the rooftops lately! haha
Nikolai White, [22.03.21 01:08]
I’d love for you to talk to us a little bit about the Ecomi ecosystem, as well as what stands you apart from other NFT platforms
Rhys (ECOMI- Will not ask for ETH), [22.03.21 01:08]
sure thing!
So, first things first, and for anyone new to our community, ECOMI is the company, and VeVe is a digital collectibles platform built by ECOMI
When we started designing and building VeVe, we really wanted to take everything people already know and love about physical collecting, and translate it into a new digital world
In order to do that, we had to build the platform for the mass market, otherwise we would be limiting our audience and creating a lot of barriers to entry (which we've seen a few other NFT platforms experience recently). So the app itself actually hides all of the 'crypto' stuff from the user, and allows an ordinary person to come in, understand it quickly, and begin their digital collection
one of the key points of difference with our approach though is the licensing
over the past 2 years or so we have acquired the licensing rights to more than 100 mainstream brands, which all come with established fanbases around the world, and in doing so are able to create incredible 3d models and sculptures, interactive collectibles and a whole lot more, based on these existing brands
Nikolai White, [22.03.21 01:13]
Hahaha, crypto in disguise!
Rhys (ECOMI- Will not ask for ETH), [22.03.21 01:13]
Absolutely! It's the only real way to breach into the mass market audience, as the learning curve (and security) for non-crypto people is just too much.
just to give you some idea of the calibur of brands we're working with, this is the list we've announced so far
1. tokidoki: Mermicorn, Donutella, Unicorn, and Cactus Friends
2. CBS: Star Trek - The Next Generation, Picard, and Discovery
3. Cartoon Network: Adventure Time, Powerpuff Girls, We Bare Bears, and Tuzki
4. Capcom: Monster Hunter, Monster Hunter - Iceborne, and Street Fighter
5. Warner Bros: DC Collectables, Harley Quinn, The Joker, Superman, and Batman
6. The NFLPA
7. Jurassic park
8. Back to the Future
9. Ultraman
10. Ghost Busters
11. Fast and the Furious
12. CryptoZoic Cryptkins
13. General Motors
Nikolai White, [22.03.21 01:13]
It’s much easier to get non-savy collectors to buy something because of their favorite brands than it is to teach them about the all the crypto bits I’d imagine
Rhys (ECOMI- Will not ask for ETH), [22.03.21 01:14]
absolutely it is, really we're taking the brands and collectibles that people already know and love, and presenting it to them in an entirely new way
the best part is that VeVe is a smartphone app, so now any fan, from anywhere in the world, has access to this new world of collecting and fandom right in the palm of their hand
we identified early on that wallets, keys, tokens, all of those things were huge pain points in a product like this, so we've worked the whole design and tokenomic system to be hidden to the normal user
Nikolai White, [22.03.21 01:16]
How did you get all of these licenses? It’s quite extensive
Rhys (ECOMI- Will not ask for ETH), [22.03.21 01:16]
have you ever heard of a man named Alfred Kahn?
Nikolai White, [22.03.21 01:16]
The guy who brought Pokémon to America ?
Never heard of him 😉
Rhys (ECOMI- Will not ask for ETH), [22.03.21 01:17]
hahah that's the one! He's also responsible for teenage mutant ninja turtles, Yu-Gi-Oh, really some of the worlds biggest brands and childrens entertainment shows.
and he happens to be our SVP of licensing
can i drop links in here?
Nikolai White, [22.03.21 01:18]
Oh man, I have some great memories of reading Shonen-Jump with my father growing up
Rhys (ECOMI- Will not ask for ETH), [22.03.21 01:18]
i'll share a couple articles so people can learn more about Al
Medium: Get to Know Our Head of Licensing- Al Kahn!
You asked the questions, now we give you the answers!
Medium: Introducing Alfred Kahn: Head of Global Licensing at ECOMI
Licensing Hall of Fame, responsible for Pokémon, Yu-Gi-Oh & TMNT and more than $25b in sales- Alfred Kahn is ECOMI's newest superstar!
Nikolai White, [22.03.21 01:18]
Sure!
Rhys (ECOMI- Will not ask for ETH), [22.03.21 01:18]
so awesome!
So with Al's experience and connections he mainlined us into a lot of great places, but really it was the tenacity of our CEO (David) and COO (Dan) that secured the deals
it was a tough grind to start, we've been building VeVe for more than 2 years and to start with people had no idea what an NFT was (now it's easy!)
but they kept on pushing, showing them the app, explaining the vision, and eventually we hit a critical mass point where they all realised the opportunity and jumped on board
we're still in beta, and barring a few teething problems i can honestly say that so far the adoption of the app has been truly mind blowing
Nikolai White, [22.03.21 01:22]
Haha yeah no kidding, once we started talking OMI just over a week ago it was only .0025, and unless i missed anything drastic in the last couple of hours, you guys already shot up to over a cent!
Rhys (ECOMI- Will not ask for ETH), [22.03.21 01:23]
the feedback lately has just been amazing, so many people have been throwing their support behind us, and i think people are really starting to understand why we went down the licensing route in the first place
there's no doubt we're in a bit of an NFT hype cycle right now, but when the dust settles we'll still be here as we have access to existing fanbases around the world, in a wide range of verticles
having an app that's easy to understand and use definitely makes a big difference too, so all credit goes to our dev's and design team on that one!
but they kept on pushing, showing them the app, explaining the vision, and eventually we hit a critical mass point where they all realised the opportunity and jumped on board
we're still in beta, and barring a few teething problems i can honestly say that so far the adoption of the app has been truly mind blowing
Nikolai White, [22.03.21 01:25]
Just kidding, the AMA isn’t over yet
Rhys (ECOMI- Will not ask for ETH), [22.03.21 01:25]
hahahahaha i'll cut you a deal after 😉
have you seen some of the capabilities of VeVe?
Nikolai White, [22.03.21 01:25]
So can you tell me more about the collectibles on VeVe?
Rhys (ECOMI- Will not ask for ETH), [22.03.21 01:25]
absoluutteellly
so, on VeVe we offer a wide range of collectibles (and soon accessories as well).
These can be:
Static- like the 3D sculptures you see in the app now
Interactive- like if it's a vehicle you'll be able to open doors, turn the wheel. Or maybe a monster from Monster Hunter doing their death move
Controllable- this is more applicable to our vehicles, and actually come under a new category of game i believe, an Augmented Reality Game or ARG! It means you can literally drive the collectibles around, in augmentd reality, like a little RC car
ill forward some examples so people understand what im talking about
and into the app we've build AR features and capabilities, there's no point being a collector if you can't show them off!
so this is an example of a static collectible in AR (in the real world)
[Forwarded from BlockchainVulture]
same deal here
[Forwarded from meng lei zhu]
this is an example of the DeLorean Time Machine from Back to the Future, due to drop april 8th on VeVe by the way!
Rhys (ECOMI- Will not ask for ETH), [22.03.21 01:29]
[Forwarded from Pieter]
You can see that it's in AR, you can scale it up to life size, open doors, literally get inside it etc...
so already pretty amazing for an NFT
but the thing i know a lot of people are waiting for is the controllability. it needs a little work still, but this is the kind of thing you'll be able to do
Rhys (ECOMI- Will not ask for ETH), [22.03.21 01:30]
[Forwarded from Frederik]
there will also be live 'physics' too, you'll be able to do burnouts, the tires will catch on fire, things like that
so for NFTs, there really isn't any digital asset like this available that you can actually own too!
Nikolai White, [22.03.21 01:33]
Oh that’s awesome, so you’re going to bring gaming into this as well?
Power to the players 💪🏼
One of the reason we love crypto at @wallstreetbets is because unlike centralized stock exchanges and apps like Robinhood there’s absolutely no way to prevent the buying and selling of assets
I hear that OMI atleast for now is only on a limited number of platforms
Rhys (ECOMI- Will not ask for ETH), [22.03.21 01:34]
yeah absolutely, we're building out a web platform that will allow for more robust utility of the collectibles, but that will come a bit further down the line
That's correct
Nikolai White, [22.03.21 01:34]
These platforms don’t have any central control over the blockchain correct? And can you tell us your roll out plan to expand to platforms that are more accessible to crypto veterans?
Rhys (ECOMI- Will not ask for ETH), [22.03.21 01:35]
[In reply to Nikolai White]
just to confirm- do you mean exchanges here?
Nikolai White, [22.03.21 01:35]
Perhaps there’s opportunities to make it more accessible to nerds like my father who isnt as familiar with crypto
Rhys (ECOMI- Will not ask for ETH), [22.03.21 01:35]
Yes, that’s correct, or I suppose Omni-wallet integration would fall under this category as well
Nikolai White, [22.03.21 01:37]
Rhys (ECOMI- Will not ask for ETH), [22.03.21 01:38]
[In reply to Nikolai White]
So right now VeVe is a hybrid system. We had to design it that way to manage the security of peoples NFTs in an easy to understand manner, it wouldnt look good if new users came in, bought collectibles, then lost their keys and therefore lost access to their collectibles.
It was also important in the early days of securing licenses as 'blockchain' was a bad word to mention but recently more and more of them are opening up to the new digital future. So coming mid year we'll be opening up interoperability of our NFTs, and some of our bigger license partners will be going straight to interoperability too. With our existing partners there is a lot of legalese to be established, as these opportunities have never been available to them before, so we're really hand holding a lot of these brands through the digital transition
yeah right now OMI is available on bitforex and bitmax exchange, and we're going live on uniswap next week too- this will be a wrapped token as we run on GoChain right now, not ethereum
We also have the Secure Wallet- our own cold storage wallet- which was actually the first product made by ECOMI
so that natively stores the OMI token and about 1000 other digital assets. people can find more info about it at secure-wallet.io and on our blog if they're interested
https://medium.com/ecomi/secure-wallet/home
for sure. the whole point of building VeVe this way was so that anyone could use it, and so far that seems to be the reaction/adoption we're getting. We've only been live for 3 months and already have 80,000 + users in the app!
before long we'll be rolling out branded/licensed versions of the secure wallet too, so you might be able to get a batman crypto wallet for example
and in the not too distant future a shelf-ready retail wallet/starter pack, which will be a less robust version of the Secure Wallet, but come with a redemption code for a collectible on VeVe as well
so you'll see our VeVe wallets in tech and gaming stores some time in the future too!
Nikolai White, [22.03.21 01:43]
Oh, well when you put it that way, I suppose having some degree of control can be useful for emergencies
Is there digital security measures in place that could prevent these features from being abused ?
I think interoperability would be huge !
Rhys (ECOMI- Will not ask for ETH), [22.03.21 01:43]
[In reply to Nikolai White]
absolutely, it's where the entire industry is heading, so it's inevitable. Plus- licensors aren't about to turn down the opportunity for a perpetual royalty either! haha
Nikolai White, [22.03.21 01:44]
Wouldn’t that mean that the NFT’s could be used in various different games, and unlock different things to have different stats or experience progress in different games ?
Rhys (ECOMI- Will not ask for ETH), [22.03.21 01:44]
[In reply to Nikolai White]
sure is. In an update coming to the app soon (should be live in the next week or two) we're adding 2FA protection, and not long after biometrics will be available as well
We haven't released details on it yet, but we are also building the VeVeVerse, which is pretty well where this will take place. There are still restrictions on how/where these licensors IP can be used, but the goal behind it is to build utility into the collectibles themselves, so you can maybe drive your collectible DeLorean to your friends place in our virtual world, or be the batman character that you own and love, things like that.
have to wait a little while longer before you get more info on that though 😉
have you seen ready player one?
Nikolai White, [22.03.21 01:47]
While crypto-gaming is still in its infancy, I think NFT’s will be some of the most exciting ways to bring gaming content back into the players hands
Just like I didn’t like renting games from Blockbuster, I don’t like the new trend of gamers paying for features on a monthly basis
By collecting digital assets, gamers can perhaps get some continual value out of their collectibles no?
We want alpha! We want alpha!
Isn’t that the first person gaming movie ?
Rhys (ECOMI- Will not ask for ETH), [22.03.21 01:48]
yeah absolutely, the amount of money being spent on in-app items and in games where the user doesn't actually own the item is crazy!
NFTs really represent a brand new world for that kind of content, and i personally am very excited about the whole metaverse ideal that is playing out
More or less, basically depicts a new digital world where people can be whoever they want to be, build whatever they can dream up, play and interact with other people inside it, that kind of thing
Nikolai White, [22.03.21 01:50]
[In reply to Rhys (ECOMI- Will not ask for ETH)]
I think I still have some old League of Legends skins I haven’t touched in years haha
At the very least if they integrated with Ecomi, I could pull a detailed version of the skin up on VeVe to show my friend if I bumped into someone at the bar that still plays ?
Rhys (ECOMI- Will not ask for ETH), [22.03.21 01:50]
i only mention it as that sort of world is part of our vision, we want to enable brand new digital experiences for our users. That starts with VeVe, but who knows where it ends!
with our app you could drop it in AR, and wear it around! haha
(also if you know anyone in management from league of legends feel free to send them our way!)
Nikolai White, [22.03.21 01:52]
[In reply to Rhys (ECOMI- Will not ask for ETH)]
The digital world is getting more and more immersive for sure.
Speaking of which, does Ecomi have any opinions on augmented reality ?
Rhys (ECOMI- Will not ask for ETH), [22.03.21 01:52]
opinions? We love it! haha
Nikolai White, [22.03.21 01:52]
[In reply to Rhys (ECOMI- Will not ask for ETH)]
No but a friend I grew up with slept with HotShotGG so I’ll see what I can do 🤣
Rhys (ECOMI- Will not ask for ETH), [22.03.21 01:53]
AR really is the bridge that lets us connect the physical world of collecting with the digital one. It allows our users to interact with our collectibles in ways that have never been available before, and we offer a way for people to build their perfect collectible showrooms, and drop them in AR too!
hahaha awesome!
i'll show you some of our AR showroom videos so you know what im talking about
[Forwarded from BlockchainVulture]
Nikolai White, [22.03.21 01:54]
Rhys (ECOMI- Will not ask for ETH), [22.03.21 01:54]
so, on VeVe, everyone has their own digital space
you can design and customise it, before long you'll be able to add props and accessories like couches, plants, shelves, pedestals etc.. to really make it your own, and show off your collection
then, as you can see in that video, you can drop your whole Showroom into augmented reality and literally walk through it
THEN- you can share that Showroom to our inbuilt social Feed and other users can check it out and walk through it too, from the other side of the world!
it's a really incredible way to show of your digital persona, and connect with other fans and collectors across the world 😊
hahaha and clearly it makes me a little excited
Nikolai White, [22.03.21 01:56]
My housemates room looks like a museum of collectibles, it would be awesome if he could post it online and other people could walk around and take a look
Is there anything else you’d like to add about the VeVe collectibles? Perhaps and new features or partnerships you’d like to reveal ?
Rhys (ECOMI- Will not ask for ETH), [22.03.21 01:57]
[In reply to Nikolai White]
for sure! That's really what we're trying to capture and re-create. Instead of needing a whole room to show off your collectibles, or for other people to have to come to your house to enjoy it, now you can do it from the palm of your hand, while enabling a whole host of customisations that you just cant do in the physical world
Nikolai White, [22.03.21 01:58]
Hahaha, now we just need to figure out what will be worth more in the future— crypto or real estate
I prefer the one with less upkeep and no yearly ownership taxes 😝
Rhys (ECOMI- Will not ask for ETH), [22.03.21 02:00]
[In reply to Nikolai White]
i wish i could drop some partnerships, but I would probably lose my job!
I will say that we have a brand new type of digital product that will roll out on VeVe in a couple of months time, so definitely keep an eye out for that.
And really I think it's important to highlight that VeVe is a platform, not just an app. That let's us take this in a lot of directions and provide incredible amounts of premium digital content.
For example, later in the year we'll be opening the 'artists alley' which will see a number of world class artists come onto the platform for some digital only releases. It will also provide a way for incredible up and coming artists to display their works as well, and im hoping to have some more news out about that soon!
just OMI 😉
hahahaha but i'de say definitely crypto in this environment, and for the next decade at least
now that the app is live we'll also be releasing new license partners and collectibles regularly (new collectibles drop weekly, Thursday 8 am PST)
Nikolai White, [22.03.21 02:03]
So, normally we do run our AMA’s for more than an hour but this one was a major success!
At one point we had 200 users in the voice chat alone
If you have a few more minutes to chat, i’d be interested in getting the scoop on the tokenomics
Rhys (ECOMI- Will not ask for ETH), [22.03.21 02:03]
so keep an eye in our announcement channel, blogs, and in the news for those fun things
Nikolai White, [22.03.21 02:03]
Or as some of our friends say
Rhys (ECOMI- Will not ask for ETH), [22.03.21 02:03]
amazing! thank you everyone for being part of it
Nikolai White, [22.03.21 02:03]
Pumpamentals
Rhys (ECOMI- Will not ask for ETH), [22.03.21 02:03]
for you guys- i have the time! hahaha
Nikolai White, [22.03.21 02:03]
Rhys (ECOMI- Will not ask for ETH), [22.03.21 02:03]
where would you like to start?
Nikolai White, [22.03.21 02:05]
Well gems are a reoccurring theme in premium games, and we see them making an appearance in the VeVe app as well
What are the gems for, and why do you use them in the App instead of OMI?
Can I swap them?
Rhys (ECOMI- Will not ask for ETH), [22.03.21 02:06]
great place!
So, because VeVe is built for the mass market, we also needed an in-app currency that was familiar and easy to use- Gems.
But Gems are actually just OMI tokens wearing different pants.
So all of the transactions in the app run using the OMI token, but to the end user they don't see any of the technical blockchain stuff, they just come in, can purchase Gems using an in-app purchase, or swap their OMI tokens into Gems, and then buy their favourite collectibles.
Where it gets really interesting though is our 'pumpamentals' as you put it haha.
every time an NFT is sold, the OMI tokens used in the transaction are burnt
forever.
i think we've already burnt 2.4 billion tokens or something crazy, so our total token supply is actually deflating over time
i dont know of any other project that offers that
in order to keep the in-app Reserve topped up, we also have a system of buybacks, using the revenue generated from those sales, which creates on-going buy pressure for OMI on exchanges
we go into much more depth about it here for anyone who wants to read more into it:
VeVe Tokenomics: In-app Funds and Token Buy-Backs
the design of the app and the use of the OMI token also means that a vast majority of the total token supply never reaches circulation, and we released some news last week that another 97 billion tokens was burnt as well, so really the more NFTs we sell, the more scare the OMI token becomes. and in 3 months we've sold more than 100,000 NFTs, so i think we can all see where this is headed longer term
Nikolai White, [22.03.21 02:10]
So does that mean Gems to OMI are 1 to 1?
Rhys (ECOMI- Will not ask for ETH), [22.03.21 02:11]
[In reply to Nikolai White]
great question. So Gems actually act like an in-app stable coin.
1 Gem = $1 USD
That way we can price collectibles in a way that is easy to understand too.
You convert your OMI to Gems at the market rate, so, theoretically if the token price increases, you can now get more Gems for your tokens, and therefore more collectibles
(not financial advice and all those fun things)
the OMI > gem swap is being refactored by our dev's at the moment, but should be back to normal by the end of the week, and then it's a breeze to do
How to Swap OMI for Gems
Nikolai White, [22.03.21 02:13]
Burning tokens certainly does cause more scarcity! This will make it have some crazy moon potential no?
In addition, there’s a rumor going around that the OMI team accidentally burned a ton of tokens speeding up the pace of the project
Can you confirm or deny these rumors at this time ?
Rhys (ECOMI- Will not ask for ETH), [22.03.21 02:13]
and in Q2 we'll integrate our MTL partner, so you'll also be able to swap Gems back into OMI (or directly to fiat, although that will still be like a market sell i believe) and cash out of the app
correct on both fronts
it's not a rumour haha, we put it out in a video update last week, i'll find the link for you if you want it
Nikolai White, [22.03.21 02:13]
Please !
Rhys (ECOMI- Will not ask for ETH), [22.03.21 02:14]
Checking in with VeVe- Progress, announcements and reveals...
Nikolai White, [22.03.21 02:14]
Rhys (ECOMI- Will not ask for ETH), [22.03.21 02:14]
we release as much content like this as possible to keep the community informed of the app development and everything else we have going on, i actually just published another one before we started this AMA
ECOMI Community Update- March 22 2021
Nikolai White, [22.03.21 02:15]
The OMI team has been super active lately, do you have any big events upcoming?
Rhys (ECOMI- Will not ask for ETH), [22.03.21 02:17]
events are little limited given the covid environment and all of that, but when they're back on we'll be on the road at comicon and that kind of event.
in the meantime we have a LOT of amazing content to roll out on VeVe, so new digital collectible drops will happen every week, new brand/license partners will be announced- there's some that the crypto crowd are absolutely going to love so hopefully that gets out soon too- and we'll continue to build and develop all the amazing features on VeVe.
We do release quarterly updates and roadmaps too for anyone who wants to see what we have coming. I'll just drop the 3 we did for Q1 as well, there was a token update, an app features update and a collectibles update that we shared, and i think we'll maintain that sort of format moving forward as well
Medium
Q1 2021 Token Updates
More than 1.1 Billion OMI have been sent out of circulation from the sale of over 1200 collectibles- here’s what’s coming next!
Medium
VeVe: Q1 App Features
Photo editing tools, Showroom upgrades, accessories, props and even a new platform build! VeVe is just getting started…
Medium
Digital Collectibles Coming to VeVe Q1-21!
There are already some incredible collectibles available on VeVe, and with more than 100 brands to be available on our digital…
you've probably figured out by now that we produce a tonne of content! hahaha it just helps new people to find us and understand what we're building, and of course we're all one big happy family so want everyone to be involved on this journey 😊
Nikolai White, [22.03.21 02:22]
I love projects with a clear and defined roadmap, so many other young projects in the crypto space like to make empty promises without setting dates to attract hype without delivering on a finished product
Seeing a lower market cap project that actually has a finished project is like a breath of fresh air
Exclusive partnerships and constant improvements is really rare too, perhaps you guys won’t be such a low market cap for very long !
It seems so! The only thing you guys need now is an episode on the Satoshi Street Bets Podcast
Rhys (ECOMI- Will not ask for ETH), [22.03.21 02:23]
the way things are looking we may not be!
We're also one of the only crypto projects that has actually delivered on everything in our whitepaper, and can now proudly say we have an incredible userbase and are generating revenue- again a rarity for a lot of companies in crypto
we are more than happy to come on for a chat!
and while im here i'll just say a big thank you for letting us share in your community, it's really appreciated and we will happily welcome any and all of you to the ECOMI fam 😊
Nikolai White, [22.03.21 02:26]
It seems there’s so much to learn about OMI that we’re really going over schedule, but I’ve got some energy to go if you do ! Otherwise we can always save some questions for Youtube
Rhys (ECOMI- Will not ask for ETH), [22.03.21 02:27]
im more than happy to keep going, hit me with your best 💪
Nikolai White, [22.03.21 02:28]
Okay perfect, so lots of us in the defi-degen communities love to put our money to work wether that be staking or farming liquidity
Are their any staking opportunities available for OMI?
Rhys (ECOMI- Will not ask for ETH), [22.03.21 02:29]
ahhhh this is where VeVe gets really fun. There will indeed be staking opportunities, but being an NFT platform it wont be like the normal 'stake your tokens to get more tokens' kind of thing.
Rather, staking on VeVe is part of our master collector program. This is where we start to build in some really awesome gamification to the app, and you can level up your collector ranking to gain access to exclusive releases, or early access to collectible drops, things like that
there will be plenty of other ways to up your ranking too, liking sharing commenting, attending location based events, stuff like that so everyone can participate regardless of whether they're crypto people or not
so our staking revolves around our NFTs, and as we all know staking also reduces the circulating supply of the token
ha!
Nikolai White, [22.03.21 02:32]
OMI printer go BRRRR
Rhys (ECOMI- Will not ask for ETH), [22.03.21 02:32]
we have a lot of layers and implementations to come for the platform, after all we dont want to just attract users, we want them to absolutely love the platform and keep coming back!
Nikolai White, [22.03.21 02:33]
People are have been making a ton of money reselling NFT’s
Now is Ecomi with secondary market support ?
Rhys (ECOMI- Will not ask for ETH), [22.03.21 02:35]
so we already have an in-built market place where you can buy and sell with other users. In order to use the Market you have to have Gems, which means OMI token are being bought and used throughout the app too.
You can list your items at a 'buy now' price or put the up for auction and let the mayhem take over! hahaha i think we've seen some go for nearly 3000 Gems ($3k usd) already so there are a lot of opportunities with the collectibles too.
Before long you'll also be able to search users and offer trades as well, like my 1 batman for your 3 powerpuff girls, that kind of thing.
when the NFTs become interoperable you'll be able to send them out of the app to open marketplaces like opensea as well, but you wont get the full VeVe/AR experience like you do in the app itself
Nikolai White, [22.03.21 02:36]
[In reply to Rhys (ECOMI- Will not ask for ETH)]
So many people are investing in products where the main value is “dollar go up”
Fickle traders with no attachment to the products will go in and out of projects in order for a quick buck
My understanding is part of Ecomi’s strategy is to adopt real users so that they stick with the platform, and the fact that they need to understand this and go off the platforms they might be used to in order to obtain OMI kind of works in their favor doesn’t it?
I’m no expert trader, but fundamentally this would create a price floor that’s not purely based on speculation if my logic is sound
That’s being said, people in crypto love to speculate! Are their any exchange listings coming soon for the degens to play in the reindeer games ?
Nikolai White, [22.03.21 02:37]
[In reply to Rhys (ECOMI- Will not ask for ETH)]
Rhys (ECOMI- Will not ask for ETH), [22.03.21 02:39]
yeah for sure, what we're really aiming for and attracting is fans.
We really believe everyone is a fan of something, be it the NFL, batman or collectible cars, so fundamentally we want people to use and actually enjoy the products themselves.
What the 'dollar value' of that equates to will be different for every person, and if you reallllly love a particular batman you might not ever sell it, but having the option available to you is a big leg up too
hahaha you dont have crypto without speculation!
we'll be going live on uniswap next week, march 31, and continue to list on other exchanges too. Of course just about every exchange has been reaching out to us lately so i dont think it'll be long before we hit another one, but we really did only list on bitmax 2 weeks ago or something so we're happy with the way things are progressing right now
Nikolai White, [22.03.21 02:40]
Between exclusive iconic brands, limited quantities and the collectible nature we could easily see prices that reflect for example the comic book industry in the future correct ?
But you guys aren’t limited to pop culture right? I think I had seen somewhere that you had some sports partnerships and other collectibles as well?
Rhys (ECOMI- Will not ask for ETH), [22.03.21 02:42]
for sure, i really dont think it'll be long before the digital collectible market overtakes the physical, it just makes things too easy for collectors, and you get all the same value propositions e.g. scarcity, rarity, 1/1's, exclusive editions, all of that can now be translated into digital, but you can also sell them at the push of a button to anyone in the world, that's something that really wasn't possible before NFTs.
of course it extends to digital art and beyond as well, so it's really exciting to see where the industry will go in the next few years
Nikolai White, [22.03.21 02:43]
[In reply to Rhys (ECOMI- Will not ask for ETH)]
Oh man, listings such as uniswap is like opening the floodgates
Rhys (ECOMI- Will not ask for ETH), [22.03.21 02:43]
[In reply to Nikolai White]
not at all, Veve covers a range of fandom verticles, and we have acquired licenses and brands across
Pop Culture, Sports, Gaming, vehicles, Film & TV, Anime & Animation, and Celebrities
Nikolai White, [22.03.21 02:43]
How can people get their OMI tokens now before the big rush?
Rhys (ECOMI- Will not ask for ETH), [22.03.21 02:43]
[In reply to Nikolai White]
yeah you go where the eyeballs are right!
you can get OMI on bitforex and bitmax exchange. Bitmax is probably the more well known one, we're listed against USDT in both cases.
Just be sure that you're looking at OMI, and not 'ecom' or 'omni'
unfortunately we had a lot of users buying the wrong tokens when they started to hear our name mentioned
Nikolai White, [22.03.21 02:45]
Let’s say I had access to the official intellectual property for Wall Street Bets, would we need to have an exclusive partnership in order to list NFT’s on OMI?
Rhys (ECOMI- Will not ask for ETH), [22.03.21 02:46]
[In reply to Rhys (ECOMI- Will not ask for ETH)]
i guess the art and artists that are coming on board would fit somewhere into these verticles too, but 'artists' may be considered it's own verticle before long as well
to list them on VeVe, yes, OMI is just the token 😊
the platform is designed for premium and curated content, rather than user-generated content, like you would find on rarible or a similar platform
i'de be very curious to see what kind of collectibles you'd make for us though!
Nikolai White, [22.03.21 02:49]
I have some big things coming from the art world! Nothing I can get into here, but perhaps in private I can spill the beans
I’ve got a ton of access to the art world, everything from the largest fine art galleries in the east coast of the US to a few Banksy’s that made their way into private hands 😄
Rhys (ECOMI- Will not ask for ETH), [22.03.21 02:49]
ALPHA ALPHA ALPHA!!! 🚀
Nikolai White, [22.03.21 02:50]
That was alpha! This is the first time I’ve spoken of this publicly
Rhys (ECOMI- Will not ask for ETH), [22.03.21 02:50]
[In reply to Nikolai White]
wow that's awesome, i'de love to see Banksy making a splash in the NFT world
i am very humbled that you're sharing it, we can definitely have a conversation later about it all
(sorry fam!)
Nikolai White, [22.03.21 02:53]
Definitely, you mentioned you wanted to support artists
What infrastructure is in place to help artists at all levels of their craft monetize their work ?
Rhys (ECOMI- Will not ask for ETH), [22.03.21 02:55]
i wont have the finer details until we're ready to roll out the artist alley, but we do have partnerships with some of the biggest artists in the world already, and they'll be doing some exclusive releases on our platform.
For up and coming artists we will eventually open avenues for submissions, but we also have partnerships with people like Lev of Toy Tokyo, and other people in the space who are aware of new and exciting artists too, so people like that (people in the know, moreso than us anyway) will responsible for helping us with a lot of the curation and art direction. Do you know much about Toy Tokyo?
VeVe Welcomes: Toy Tokyo
Nikolai White, [22.03.21 02:57]
Hmm no I don’t think I do, but the toy market is certainly another interesting angle as well
Rhys (ECOMI- Will not ask for ETH), [22.03.21 02:59]
yeah absolutely, 'designer toys' are a thing, but he's worked with a number of world class artists too, definitely worth doing some research on him
Nikolai White, [22.03.21 03:00]
What are your thoughts on NFT’s that represent their physical counterparts and do you have any plans in that area?
Also along those same lines, where do you see the future of NFT’s going?
Rhys (ECOMI- Will not ask for ETH), [22.03.21 03:02]
yeah we do indeed. Rather than an NFT that represents a physical counterpart, we're going to be enabling releases where you buy the digital version and you have a 1 in X chance of winning a physical one too, or it may be that everyone who buys the digital gets a physical representation too, theres a lot of crossover there that can help to bridge the digital/physical art world and introduce fans and collectors to new artists too
i honestly think that just about everything will be represented by an NFT at some point
it just makes more sense to be able to buy/trade these assets without always needing to move the physical item around. Even when it comes to things like house deeds, i like the idea of being able to buy a portion of a property, and diversifying across different countries, for example
same deal with cars, art, whatever you want, NFT's enable truly liquid markets where they have never been available before, and I think they stand to have as big an impact on finance (if not bigger) than crypto-as a currency/financial alternative- already has
Nikolai White, [22.03.21 03:05]
Hahaha when I was in school and they were talking about The Internet of Things being the biggest thing coming to business in the future I didn’t even know what an NFT was
Any thoughts on the concept of the Internet of Things as it relates to NFT’s?
Rhys (ECOMI- Will not ask for ETH), [22.03.21 03:06]
hell i had no idea either before we kicked things off with ECOMI, i think people forget that they really haven't been around all that long, before crypto punks/kitties the technology hadn't even been invented, and that was only 4 years ago really
hmmmm honestly not something i've put that much brain power into. To me the IoT is more the interconnectivity of devices, whereas NFTs are a digital representation of an item
Nikolai White, [22.03.21 03:08]
Well if the internet of things could be hacked and breach personal data, could blockchain or NFT’s be used in order to verify who can access the data on these devices ?
Rhys (ECOMI- Will not ask for ETH), [22.03.21 03:11]
yeah i think they can for sure. You can already grant users/fans special access to things just for holding NFTs, like in decentraland for example, maybe wearing a certain pair of digital shoes will let you into a private room or something. i dont see why they cant be used for ID purposes too, and for passwords and things.
once we have real integrations between physical and digital items, it could be something as simple as a watch, that looks ordinary to most people, but unlocks your house or your data or something like that. Or you scan a photo in your house that is also linked to your digital identity, starts to become keys hidden in plain sight
i really like the web3 movement happening at the moment, and building a digital identity/trust score
Nikolai White, [22.03.21 03:13]
Definitely, cryptocurrency got scary for a minute with how transparent blockchain technology is, but it’s nice to see new integrations coming to the privacy and security of our digital assets
Rhys (ECOMI- Will not ask for ETH), [22.03.21 03:13]
ties into the zero knowledge proofs as well, two parties being able to prove who they are or provide information, without anyone knowing who they are or what that information is, but for that computation to then approve whatever transaction needs to take place
yeah for sure, just another rabbit hole in crypto! hahaha
Nikolai White, [22.03.21 03:16]
Speaking of securing the value of of our digital assets, someone on our voice chat just asked wether or not the fully sold out NFT’s could be printed at a later date
Does Ecomi have any plans to rerelease any sold out items on VeVe and in addition, are their decentralized solutions in place that make that impossible ?
Rhys (ECOMI- Will not ask for ETH), [22.03.21 03:17]
definitely not. Anything sold out can be acquired by buying/selling with other users in the Market, so people can still collect their favourites there, but anything sold out is foreever unavailable in the Store
the same as minting any token, we only mint a limited number of each collectible, and once that's done there wont be any more.
The number minted also depends on rarity, so Secret rare or ultra rare will always be the most limited, and then you go down the rungs rare, uncommon and common (which has the most)
so you might have 7500 commons, and only 1000 ultra rares
if we kept releasing them you would just saturate the market, and the whole point is that these are very limited edition, scarce items
Nikolai White, [22.03.21 03:20]
They also have a follow up question, do you ever have plans to increase the number of commons or rares in the later editions?
Not retroactively of course
Rhys (ECOMI- Will not ask for ETH), [22.03.21 03:21]
as our userbase grows we may increase the numbers compared to some of our early drops, but really we want to create that exclusivity for our users, and lower runs on the items also stimulate the second hand Market economy (which users need Gems/OMI to participate in) so we wont be increasing the number minted just because our adoption increases
of course the numbers may change depending on the brand too, some more popular ones or with more IP may give us opportunities to offer different things, like higher runs on really fun collectibles so they're available to more people. We've managed to collect a great amount of feedback in the 3 months that we've been live, so we'll continue taking that into consideration too as we move forward and build out the platform
Nikolai White, [22.03.21 03:27]
Also, while we‘re taking audience requests they want to know if you guys are looking to obtain the NFT rights for Transformers
And I guess in that same vein, I’ll ask about Power Rangers !
Rhys (ECOMI- Will not ask for ETH), [22.03.21 03:27]
hahaha we are looking to obtain the rights for EVERYTHING!
our goal was really to corner this market, and to be the 'netflix of digital collectibles' so we are constantly onboarding new brands and licenses, and will continue to build out those offerings as we move forward. With more than 100 on board already, including things like the NFL PA, DC Comics, Cartoon Network, General Motors etc... you can already see the calibur of licensor we're working with, and they continue to get bigger from here
Nikolai White, [22.03.21 03:29]
Hahaha okay awesome, so nothing is out of the question?
I look forward to a painful array of Jackass NFT’s then 😉
Rhys (ECOMI- Will not ask for ETH), [22.03.21 03:29]
hahahahaha if steve-o is licensing himself it could be a thing
for now though team I think im going to have to wrap this up, we have another massive week ahead with a new drop on thursday (UltraMan for anyone wondering) and plenty of work to come!
Nikolai White, [22.03.21 03:31]
I’ll give him a call when we get off, I’ll play 7 degrees of Kevin Bacon
Being from NY, the world seems really small
It’s amazing how cryptocurrency is bringing people together
Before we wrap up, is there anything else you’d like to share with the audience?
Rhys (ECOMI- Will not ask for ETH), [22.03.21 03:31]
[In reply to Nikolai White]
truly incredible, it's like we've all found a hidden secret
Just want to say a big thank you to everyone for tuning in, the best way to really understand Veve is just to download it on your phone and take a look around, it's available on both iOS and Android provided your phone can support AR.
you can find all of our resources by joining the ecomi community t.me/ecomi
or checking out our blogs medium.com/ecomi and medium.com/veve-collectibles
And if you want to get your hands on some epic ultraman collectibles they drop this thursday 8 am PST!
and of course, if you want to pick up some OMI tokens, bitforex and bitmax exchanges are the place to do it!
Big thank you again for having us on, i hope you all enjoy the rest of your day 😊
Nikolai White, [22.03.21 03:36]
Glad to have you, thanks for sticking around as long as you did!
Where can we follow all the latest Ecomi updates ?
Rhys (ECOMI- Will not ask for ETH), [22.03.21 03:37]
no problem at all, it's been great to chat, and i hope everyone learnt something about us today
t.me/ecomiANN is the place!
in fact i think you'll catch our CEO chatting to Ran (crypto banter) in about 20 minutes too if you want to tune into that!
Nikolai White, [22.03.21 03:38]
Alright thanks again for coming!
I’m going to resume our normal chatting activities
Sure, post link!
Rhys (ECOMI- Will not ask for ETH), [22.03.21 03:39]
VeVe CEO on YoutTube CryptoBanter
cheers! catch you guys around the cryptosphere!
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